Anavex Life Sciences Corp. (NASDAQ:AVXL) shares hit a new 52-week low during trading on Friday . The company traded as low as $2.60 and last traded at $2.61, with a volume of 432426 shares changing hands. The stock had previously closed at $2.69.
A number of research analysts have recently commented on the company. Maxim Group set a $15.00 price objective on Anavex Life Sciences and gave the company a “buy” rating in a report on Monday, October 30th. ValuEngine lowered Anavex Life Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Finally, Noble Financial reaffirmed a “buy” rating on shares of Anavex Life Sciences in a report on Tuesday, December 12th.
The firm has a market cap of $125.14 and a price-to-earnings ratio of -8.03.
Institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. bought a new stake in shares of Anavex Life Sciences during the second quarter worth $158,000. The Manufacturers Life Insurance Company grew its stake in shares of Anavex Life Sciences by 37.7% during the second quarter. The Manufacturers Life Insurance Company now owns 31,876 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 8,728 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Anavex Life Sciences during the second quarter worth $186,000. Rhumbline Advisers grew its stake in shares of Anavex Life Sciences by 14.8% during the second quarter. Rhumbline Advisers now owns 40,342 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 5,205 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Anavex Life Sciences by 12.1% during the second quarter. Wells Fargo & Company MN now owns 40,385 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 4,347 shares during the period. Institutional investors and hedge funds own 22.65% of the company’s stock.
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About Anavex Life Sciences
Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.
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